The charity was initially set up by the Foreign Office in 1948 but became an independent charity in 1963.
It has been responsible for the running of the UK Youth Parliament in recent years and was awarded a £750,000 contract to run the programme in March last year. The funding was due to run until 2025.
Zara Khan, BYC chair, said: “It is with great sadness that we announce the permanent closure of the BYC as ongoing financial challenges have resulted in insolvency.
“We know this news will come as a shock to young people across the country, generations of people who have been part of the youth voice movement, our supporters and many of our partners.
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